Photo: Hyundai | Edited
Hyundai is among the most ambitious traditional carmakers in adopting electromobility. The Korean company is already giving the chills to Ford, GM, and Volkswagen, with plans to sell 2 million EVs annually by 2030. Hyundai announced investments totaling $83 billion by 2032 to make that happen.
Hyundai sees a "seismic change" in the auto industry toward electric vehicles and announced massive investments to keep in the game for the long run. The Korean carmaker pledged about 109.4 trillion won ($85 billion) through 2032, with about a third of the funds (35.8 trillion won/$27.8 billion) dedicated to EV development and production. This includes 9.5 trillion won ($7.4 billion) for battery factory development.
Hyundai used its 2023 CEO Investor Day to unveil an ambitious mid to long-term business strategy, which paves the way for a transition to electrification. The critical parts of the strategy include introducing a next-generation modular architecture for EVs and strengthening EV production capacity and battery development capabilities. The plan also pledges investments in autonomous driving, hydrogen, robotics, and advanced air mobility.
Hyundai plans beyond the current E-GMP EV architecture with a more advanced Integrated Modular Architecture (IMA) platform. The new platform will be used on 13 new dedicated EV models from Hyundai, Kia, and Genesis through 2030. IMA will allow Hyundai to achieve maximum cost reduction through economies of scale. The carmaker says the new platform will allow "over 80 modules" to be shared across different segments, irrespective of vehicle type, allowing for versatile combinations.
The new platform will underpin new vehicles beyond the mid-size SUVs covered by the current E-GMP. Hyundai says it encompasses nearly all vehicle classes, ranging from small and large SUVs to pickup trucks, along with the flagship models of the Genesis brand. The IMA platform will utilize various battery solutions, including next-generation NCM and LFP batteries. The company also intends to adopt different battery form factors "to enhance versatility." This would open the way to cylindrical cells, which became the golden standard in the auto industry.
The IMA modular platform will introduce a new software architecture to support Hyundai's future software-defined vehicles (SDV). The Korean carmaker aims to build an app ecosystem for its upcoming open-source operating system and controller integration. The new platform will use high-performance semiconductors and OTA update advancements to offer "Level 3 and higher autonomous driving capabilities."
Hyundai plans to launch the Motional robotaxi service in Las Vegas at the end of this year. The Joint venture between Hyundai Motor Group and Aptiv is conducting pilot services with Uber and Lyft. Hyundai bought autonomous driving startup 42dot in August 2022, with plans to start developing its own software platform called Titan by 2024 and validate it by 2026. Hyundai wants to launch an autonomous driving purpose-built vehicle (PBV) business after 2027 with the aim of turning a profit after 2028.
Hyundai revealed that its first-ever EV dedicated production facility is the Hyundai Motor Group Metaplant America (HMGMA) in Georgia. The plant will start production in the second half of 2024, with a planned annual production capacity of 300,000 electric vehicles. Compared to Hyundai Motor's plant in Montgomery, Alabama, the company expects to significantly improve logistics and assembly automation rates and the number of cars that can be produced.
Hyundai used its 2023 CEO Investor Day to unveil an ambitious mid to long-term business strategy, which paves the way for a transition to electrification. The critical parts of the strategy include introducing a next-generation modular architecture for EVs and strengthening EV production capacity and battery development capabilities. The plan also pledges investments in autonomous driving, hydrogen, robotics, and advanced air mobility.
Hyundai plans beyond the current E-GMP EV architecture with a more advanced Integrated Modular Architecture (IMA) platform. The new platform will be used on 13 new dedicated EV models from Hyundai, Kia, and Genesis through 2030. IMA will allow Hyundai to achieve maximum cost reduction through economies of scale. The carmaker says the new platform will allow "over 80 modules" to be shared across different segments, irrespective of vehicle type, allowing for versatile combinations.
The new platform will underpin new vehicles beyond the mid-size SUVs covered by the current E-GMP. Hyundai says it encompasses nearly all vehicle classes, ranging from small and large SUVs to pickup trucks, along with the flagship models of the Genesis brand. The IMA platform will utilize various battery solutions, including next-generation NCM and LFP batteries. The company also intends to adopt different battery form factors "to enhance versatility." This would open the way to cylindrical cells, which became the golden standard in the auto industry.
The IMA modular platform will introduce a new software architecture to support Hyundai's future software-defined vehicles (SDV). The Korean carmaker aims to build an app ecosystem for its upcoming open-source operating system and controller integration. The new platform will use high-performance semiconductors and OTA update advancements to offer "Level 3 and higher autonomous driving capabilities."
Hyundai plans to launch the Motional robotaxi service in Las Vegas at the end of this year. The Joint venture between Hyundai Motor Group and Aptiv is conducting pilot services with Uber and Lyft. Hyundai bought autonomous driving startup 42dot in August 2022, with plans to start developing its own software platform called Titan by 2024 and validate it by 2026. Hyundai wants to launch an autonomous driving purpose-built vehicle (PBV) business after 2027 with the aim of turning a profit after 2028.
Hyundai revealed that its first-ever EV dedicated production facility is the Hyundai Motor Group Metaplant America (HMGMA) in Georgia. The plant will start production in the second half of 2024, with a planned annual production capacity of 300,000 electric vehicles. Compared to Hyundai Motor's plant in Montgomery, Alabama, the company expects to significantly improve logistics and assembly automation rates and the number of cars that can be produced.
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